RateGain Tech Share Price: Shares of RateGain Tech started the trading session on Tuesday (November 21) on a higher note after the company approved the allotment of shares through Qualified Institutional Buyers.

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The stock of RateGain Tech was trading 1.13 per cent higher, or Rs 8.10, at Rs 725.95, at 9:37 am on Tuesday.

The company's shares have been performing well for some time as they hit a 52-week high of Rs 733 on Friday (November 17) and November 15 (Wednesday).   

What is RateGain Tech QIP plan?

RateGain Tech, which is a global provider of SaaS solutions in the hospitality and travel industry, on Monday announced the completion of a capital raise of Rs. 600 crores through a Qualified Institutional Placement (QIP) with support from QIB.

"The Fundraising committee of the Board of Directors approved the allotment of 9,331,259 shares at a price of Rs. 643 (Face value of Rs. 1 and premium of Rs. 642)," the company said in a statement on Monday. The floor price of the share is Rs 676.66/share.